Jefferies Financial Group Increases Reddit (NYSE:RDDT) Price Target to $300.00

Reddit (NYSE:RDDT) had its target price raised by Jefferies Financial Group from $230.00 to $300.00 in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price target points to a potential upside of 25.10% from the stock’s previous close.

Several other analysts have also issued reports on RDDT. Raymond James Financial reiterated a “strong-buy” rating and set a $225.00 price objective (up from $175.00) on shares of Reddit in a report on Friday, August 1st. Wall Street Zen upgraded Reddit from a “hold” rating to a “buy” rating in a report on Sunday. Piper Sandler raised their target price on Reddit from $150.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Citigroup raised their target price on Reddit from $158.00 to $163.00 and gave the company a “buy” rating in a report on Tuesday, June 24th. Finally, Guggenheim raised their target price on Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $180.58.

Reddit Stock Up 4.3%

Shares of Reddit stock opened at $239.81 on Wednesday. The stock has a market cap of $44.88 billion, a PE ratio of 218.01, a price-to-earnings-growth ratio of 3.65 and a beta of 2.40. The business has a fifty day simple moving average of $190.30 and a 200-day simple moving average of $143.71. Reddit has a 12 month low of $55.48 and a 12 month high of $253.14.

Reddit (NYSE:RDDT) last issued its earnings results on Thursday, July 31st. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.20 by $0.25. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The business had revenue of $499.63 million during the quarter, compared to analysts’ expectations of $424.07 million. During the same quarter last year, the firm posted ($0.06) earnings per share. Reddit’s revenue was up 77.9% compared to the same quarter last year. Reddit has set its Q3 2025 guidance at EPS. Analysts expect that Reddit will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Reddit news, insider Benjamin Seong Lee sold 6,426 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $220.28, for a total value of $1,415,519.28. Following the completion of the sale, the insider owned 83,445 shares in the company, valued at approximately $18,381,264.60. This trade represents a 7.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer L. Wong sold 30,806 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $218.55, for a total value of $6,732,651.30. Following the completion of the sale, the chief operating officer owned 1,326,709 shares of the company’s stock, valued at $289,952,251.95. This represents a 2.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 516,777 shares of company stock worth $88,790,076. 34.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Reddit

A number of hedge funds have recently modified their holdings of the company. CWM LLC grew its stake in shares of Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company’s stock valued at $27,000 after purchasing an additional 128 shares during the period. Stone House Investment Management LLC bought a new stake in shares of Reddit in the 1st quarter valued at approximately $31,000. Financial Perspectives Inc bought a new stake in shares of Reddit in the 2nd quarter valued at approximately $34,000. Geneos Wealth Management Inc. grew its stake in shares of Reddit by 344.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after purchasing an additional 286 shares during the period. Finally, Canton Hathaway LLC acquired a new position in shares of Reddit in the 1st quarter worth approximately $43,000.

About Reddit

Reddit, Inc operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California.